Comments on: Mortgage Broker’s Anti-Appraisal Reform Lobbying Effort http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Mon, 22 Mar 2010 00:41:31 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: The Curmudgeon http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186702 The Curmudgeon Thu, 25 Jun 2009 18:15:08 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186702 Yeah, MEH, but the VC won, too. Yeah, MEH, but the VC won, too.

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186460 Mark E Hoffer Thu, 25 Jun 2009 04:36:09 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186460 these NAMB catz are so dense, to be nice about it, that even their Logo, forget their Acronym, looks like the Viet Cong flag.. http://www.casperplatoon.com/FlagHistory.htm these NAMB catz are so dense, to be nice about it, that even their Logo, forget their Acronym, looks like the Viet Cong flag..
http://www.casperplatoon.com/FlagHistory.htm

]]> By: mknowles http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186201 mknowles Wed, 24 Jun 2009 15:01:19 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186201 For more on HVCC: http://www.freddiemac.com/singlefamily/home_valuation.html For more on HVCC:

http://www.freddiemac.com/singlefamily/home_valuation.html

]]> By: CTB http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186178 CTB Wed, 24 Jun 2009 13:44:45 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186178 Why would banks ever go along with this, now that they are likely stuck with the mortgage? Why would banks ever go along with this, now that they are likely stuck with the mortgage?

]]> By: kstills http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186148 kstills Wed, 24 Jun 2009 11:52:58 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186148 I'm going off topic a bit, because earlier this week the author accused me of 'cognitive disonance' because of my stand against his support of more regulation while claiming the ideological title of libertarian. http://www.ft.com/cms/s/0/095722f6-6028-11de-a09b-00144feabdc0.html?nclick_check=1 Strip away the rest of M. Wolf's arguments, and fundamentally he believes that government backing of financial risks is at the heart of the current bubble. From the article: ***At the heart of the financial industry are highly leveraged businesses. Their central activity is creating and trading assets of uncertain value, while their liabilities are, as we have been reminded, guaranteed by the state. This is a licence to gamble with taxpayers’ money. The mystery is that crises erupt so rarely.*** As the newest measures by the NAR show, for every good regulation there will be attempts (that fail and succeed) to roll back the reform for the good of one politically powerful group or another. What we need to guard against is not the 'greed' of an industry, but the welfare of the overall country. People can and should take risk, can and should be allowed to fail, industries can and should be allowed to act like lemmings and follow each other into financial oblivion. What they should not be allowed to do is take the taxpayer with them. I’m going off topic a bit, because earlier this week the author accused me of ‘cognitive disonance’ because of my stand against his support of more regulation while claiming the ideological title of libertarian.

http://www.ft.com/cms/s/0/095722f6-6028-11de-a09b-00144feabdc0.html?nclick_check=1

Strip away the rest of M. Wolf’s arguments, and fundamentally he believes that government backing of financial risks is at the heart of the current bubble.

From the article:

***At the heart of the financial industry are highly leveraged businesses. Their central activity is creating and trading assets of uncertain value, while their liabilities are, as we have been reminded, guaranteed by the state. This is a licence to gamble with taxpayers’ money. The mystery is that crises erupt so rarely.***

As the newest measures by the NAR show, for every good regulation there will be attempts (that fail and succeed) to roll back the reform for the good of one politically powerful group or another. What we need to guard against is not the ‘greed’ of an industry, but the welfare of the overall country.

People can and should take risk, can and should be allowed to fail, industries can and should be allowed to act like lemmings and follow each other into financial oblivion. What they should not be allowed to do is take the taxpayer with them.

]]> By: NAR, NAMB Fighting Appraisal Reform | The Big Picture http://www.ritholtz.com/blog/2009/06/mortgage-brokers-anti-appraisal-reform-lobbying-effort/comment-page-1/#comment-186143 NAR, NAMB Fighting Appraisal Reform | The Big Picture Wed, 24 Jun 2009 11:40:48 +0000 http://www.ritholtz.com/blog/?p=29963#comment-186143 [...] « Mortgage Broker’s Anti-Appraisal Reform Lobbying Effort What will the history books say? [...] [...] « Mortgage Broker’s Anti-Appraisal Reform Lobbying Effort What will the history books say? [...]

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